Wall Street’s Inexplicable Room
LITTLE EVIDENCE OF RECOVERY United Press Association.—By Electric Telegraph.-—Copyright. Received Thursday, 11.55 p.m. LONDON* June 30. The Financial News, commenting on the fresh advance in Wall Street, declares that the energy and vigour thereof justifies tne description of a boom which by all technical criteria has not yet reached its peak. The advance remains inexplicable as there is little evidence of industrial recovery. Thus the market is discounting not only an autumn revival but a strong and lasting improvement in trade. It is at present impossible to make out a convincing case for recovery, though a deflationary spiral is hardly possible owing to the New Dealers’ promised spending. Wall Street will be severely tested in the next few weeks and if it emerges satisfactorily, there is reasonable hope that the worst of the 1937-38 depression has passed.
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Manawatu Times, Volume 63, Issue 153, 1 July 1938, Page 7
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141Wall Street’s Inexplicable Room Manawatu Times, Volume 63, Issue 153, 1 July 1938, Page 7
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